What Is BitSend Coin (BSD)?

Introduction

BitSend Coin is a cryptocurrency based on a peer-to-peer network and Bitcoin Core 0.14. Its primary function is to handle online payments.

The developers of BitSend have developed different technologies for their open source platform.

BitSend currently has a market capitalization of USD 16 million. At a price of USD 0.94 per BitSend Coin, around USD 300-400k is invested daily in the cryptocurrency on the digital stock exchanges Bittrex, Livecoin, LiteBit. Eu, Cryptopia, SouthXchange, and CoinGather (status 24.11.2017).

BitSend Coin

BitSend Coin – The Cryptocurrency

BitSend is concerned with the topic of online payments and is currently developing three things: the Wallet BitSend Core 0.14, the SPV Wallet and other gaming related technologies.

On the BitSend platform, miners can earn money by securing the blockchain and so-called “master nodes” are rewarded for saving the blockchain and making it available to users.

Nodes are a layer of networks that work in secured patterns to provide a variety of decentralized services.

They also protect against threats from low-cost networks.

The more master nodes a network has, the more secure is the performance in the network and the greater the capacity for end users to transfer digital money globally and 24/7.

Since its introduction in 2016,330 master nodes has already become active. The requirements for becoming a master node are only a fixed IP and the following technical requirements: 1 CPU, 512 MB Ram, and 5GB HDD.

The BitSend Core 0.14 Wallet is a wallet that implements SegWit technology.

This means that it is possible for software to separate transaction signatures from the part of the data of a transaction that is hidden by “txid”.

If you want to mine BitSend, the following key data is relevant for you: BitSend can be mined with the algorithm Xevan.

There will be 210 million coins, of which 14.6 million are already on the market. The block speed is 3 minutes per block.

The emission rate is 33 years of mining. BitSend wants to distribute its coins fairly and on a long-term basis to further develop the currency for current and future generations.

BitSend Coin – The Company

BitSend Coin was originally founded as LIMX Coin in 2014. Later the company was taken over and renamed BitSend.

There are currently five core developers, one of whom is known as “Chris.” BitSend is a German company.

The company does not have a roadmap, as many of its competitors do, but would rather concentrate on the current development of its technologies.

It also wants to work closely with its community and asks them to donate in the form of infrastructure elements.

BitSend attaches great importance to a fair and slow distribution of its coins. In the eyes of the developers, this is crucial for the success of a cryptocurrency.

Only in the long term can users and developers support the project hand in hand.

Conclusion

BitSend Coin is a cryptocurrency that deals with the central topic of online payment. The BitSend Core 0.14 and the SPV Wallet are currently being developed for this purpose.

The team behind BitSend is also engaged in online gaming technologies.

The company’s philosophy is the long-term development of technologies and close cooperation with its community.

You can’t buy it directly for fiat on any exchange. You can choose the best cryptocurrency exchange for your region and but BTC there, then trade it for BSD on exchanges. Learn here how you can instantly convert altcoins to bitcoin and vice versa.

Our recommendation is always check if Coinbase is available for your country and buy there – as it is by far the safest and best regulated bitcoin exchange. Coinbase is legit and trustworthy crypto exchange.

If your country is not available on Coinbase – check for Coinbase alternatives and buy BTC on one of those exchanges. You can always exchange your coins on Changelly (see our review of Changelly here), instantly and directly to BTC.

Best and safest option to store your coins is to download an official coin wallet and store it on a hardware wallet – our recommendation is just go and buy Ledger Nano S, it is the safest option. Check out other good hardware wallets here.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner.

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